The UK-based reinvention company Dyson, which has moved on from bagless vacuums to a series of high-tech, stylishly designed and reimagined household standbys, has just sealed a brand new lease for a prime Fifth Avenue storefront.
The location at 640 Fifth Ave., owned by Vornado Realty Trust, is currently a Nespresso Boutique Bar pop-up café that will close in March. It is just north of the newly opened Victoria’s Secret flagship.
With 26 feet of frontage, the new Dyson Demo will have a 36-foot-high glass atrium entrance with 3,167 square feet of ground-floor space. Asking rents were known to be $3,250 per square foot for this space. The Dyson Demo will open by late summer or fall 2017.
Dyson was represented by Matthew Seigel of Thor Retail Advisors. Ed Hogan and Mitchell Dearman represented Vornado in-house.
Dyson had been exploring various NYC brand-enhancing sites that would allow for a hands-on store in a heavily trafficked area with tourists and luxe residents.
In July, Chief Executive Max Conze said Dyson wanted to create a store similar to the one it just opened on London’s Oxford Street in a stylish space where consumers can try out products.
“We think it’s important that people can experience our technology, can see and understand the inside of our technology. Our products have to be so good that if you try it, you intuitively understand it,” Conze told the UK’s Telegraph.
Dyson’s reinvented products now include its new supersonic hair dryer, air purifiers, commercial hand dryers and, soon, a robot vacuum. It even sells LED lighting created by Sir James Dyson’s son Jake, whose energy-efficient lighting company was bought out by his father in 2015.
